Bankruptcy is something no one wants to consider as a first option, but each year millions of people file so they can legally be free of their debt. Fortunately, there is a bankruptcy type that can help most every financial situation. A Bankruptcy Lawyer St. Charles MO can meet with a potential client to go through their financial records and determine which filing option will be most beneficial for their debts. The sooner a person contacts a lawyer, the sooner they can find relief from the harassing phone calls and letters debt often brings.
A person will need to bring in their financial records on the debts they owe, their bank account information, their income information and proof of owned property. All of this information is carefully reviewed so the lawyer can make the determination on which bankruptcy option will be best. After careful review and discussion, the Bankruptcy Lawyer St. Charles MO will offer a client chapter 7 or chapter 13 bankruptcy. Visit here to learn more.
Those who are dealing with secured debts, such as their mortgage or car note, will likely find it helpful to file for chapter 13 bankruptcy. With this type, a person is able to keep their home and vehicles, avoiding any further collection activity from the creditors they owe. This type allows people to settle their debts by paying payments through the court. In a period of three to five years, a person can pay off their debts and have them all discharged from their record.
People with mostly unsecured debts, such as credit card debt, would be behooved to file for chapter 7 bankruptcy. Chapter 7 allows people to settle their debts in the quickest method, with most people being absolved of all of their debts within six months. With this type, people will have to pass a mean’s test and submit any non-essential property for liquidation.
No matter the reason for your debts, there is help to be found through a Bankruptcy Lawyer St. Charles MO. For help with your financial crisis, contact the Law Offices of Steven K. Brown. He will be happy to explain your bankruptcy options so you can finally overcome your debt.
